Evaluation of the effectiveness of modern models of regulation of financial markets

Isaeva E.A.1, Leshchenko J.G.2
1 Moscow Financial and Industrial University "SYNERGY", Россия, Москва
2 Institute of Economics RAS, Россия, Москва

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Том 13, Номер 10 (Октябрь 2019)

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Исаева, Е. А. Evaluation of the effectiveness of modern models of regulation of financial markets / Е. А. Исаева, Ю. Г. Лещенко // Креативная экономика. – 2019. – Т. 13, № 10. – С. 2045-2066. – DOI 10.18334/ce.13.10.40967
Isaeva, E. A., Leschenko, Y. G. (2019). Evaluation of the effectiveness of modern models of regulation of financial markets. Creative Economy, 13(10), 2045-2066. https://doi.org/10.18334/ce.13.10.40967

Эта статья проиндексирована РИНЦ, см. https://elibrary.ru/item.asp?id=41311097
Цитирований: 26 по состоянию на 07.12.2023

Аннотация:
The article touches upon the problem of regulation of modern financial markets. The authors consider the models of regulation of financial markets used in world practice: institutional by the example of China, integrated by the example of Germany, functional by the example of France, and the Twin Peaks model by the example of Australia. The advantages and disadvantages of each of them are identified. For clarity, indicators of the functioning and regulation of the financial markets of the countries studied are given. Particular attention is paid to improving the effectiveness of financial regulation models.

Ключевые слова: regulator, regulation, efficiency, institutional model, integrated model, functional model, Twin Peaks

Источники:

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Evaluation of the effectiveness of modern models of regulation of financial markets

Isaeva E.A., Leschenko Y.G.

Journal paper

Creative Economy
Volume 13, Number 10 (October 2019)

Citation:

Isaeva, E. A., & Leschenko, Y. G. (2019). Evaluation of the effectiveness of modern models of regulation of financial markets. Creative Economy, 13(10), 2045-2066. https://doi.org/10.18334/ce.13.10.40967

Abstract:
The article touches upon the problem of regulation of modern financial markets. The authors consider the models of regulation of financial markets used in world practice: institutional by the example of China, integrated by the example of Germany, functional by the example of France, and the Twin Peaks model by the example of Australia. The advantages and disadvantages of each of them are identified. For clarity, indicators of the functioning and regulation of the financial markets of the countries studied are given. Particular attention is paid to improving the effectiveness of financial regulation models.

Keywords: efficiency, functional model, regulation, regulator, institutional model, integrated model, Twin Peaks

JEL-classification: G18, G10, G17, G19

References:

Abramov A.E., Radygin A.D. (2014). Regulirovanie finansovyh rynkov: modeli, evolyutsiya, effektivnost [The regulation of financial markets: models, evolution, efficiency]. Ekonomicheskie voprosy. (2). 38. (in Russian).
Deutsche Bundesbank. Retrieved June 24, 2019, from https://www.bundesbank.de/de/
Garipova Z.L., Syao Tini (2018). Analiz integratsii finansovyh rynkov Rossii i Kitaya v usloviyakh globalizatsii [Analysis of integration of financial marketes of Russia And China in the context of globalization]. Economics and management: problems, solutions (Ekonomika i upravleniye: problemy, resheniya nauchno-prakticheskiy zhurnal). 3 (6). 108. (in Russian).
Hilbers P. (2013). Measuring the effects of financial sector supervision
Isaeva E.A., Makosov V.I. (2016). K voprosu ob ekonomicheskoy effektivnosti bankov v usloviyakh krizisa [To the question about economic efficiency of banks in a crisis]. Internet zhurnal nauki. (1(32)). 58. (in Russian).
La Banque de France. Retrieved June 24, 2019, from https://www.banque-france.fr/
Leschenko Yu.G. (2017). Institutsionalnye orientiry gruppy 20 (G-20) v aspekte rossiyskoy ekonomiki i interesov rossiyskogo predprinimatelstva [Institutional guidelines for the Group 20 (G-20) in the aspect of the Russian economy and the interests of Russian entrepreneurship]. Russian Journal of Entrepreneurship. (17). 2433. (in Russian).
Leschenko Yu.G. (2018). Makroekonomicheskoe vliyanie soglasheniy Bazel III na mirovuyu bankovskuyu sistemu [Macroeconomic impact of the agreement "Basel III" on the world banking system]. Russian Journal of Entrepreneurship. (9). 2353. (in Russian).
Leshchenko J.G., Bolonina S.E. (2019). Theoretical approaches to the improvement of mechanisms to ensure the external economic security of Russia in international financial and economic organizations Экономические отношения. (1). 15.
Pareto V. (2018). Textbook of political economy
Reserve Bank of Australia. Retrieved June 24, 2019, from https://www.rba.gov.au/
Senchagov V.K., Lev M.Yu., Gelvanovskiy M.I. i dr. (2017). Optimizatsiya pokazateley i porogovyh urovney pri razrabotke finansovo-bankovskikh i tsenovyh pokazateley v sisteme ekonomicheskoy bezopasnosti Rossiyskoy Federatsii [Optimization of performance and threshold levels in the development of banking, financial and pricing in the system of economic security of the Russian Federation] (in Russian).
Stiglitz J. (2009). Regulation and Failure, New Perspectives on Regulation
Sun D. (2017). «One Belt and One Way» and Chinas Financial Market Economics, sociology and law. (1). 24.
The People Bank of China. Retrieved June 24, 2019, from http://www.pbc.gov.cn/
Tsvetkova A.A., Kutuzova A.S. (2018). Razvitie vzaimodeystviya nadzornyh organov v ramkakh modeli Tvin Piks [The development of cooperation between Supervisory authorities in the framework of the model of Twin Peaks]. Sbornik nauchnyh trudov rossiyskikh vuzov «Problemy ekonomiki, finansov i upravleniya proizvodstvom». (43). 20. (in Russian).